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SORRENTO MESA, CA-In a lease deal that includes two separate buildings, Cardinal Health has agreed to take on 411,000 sf of space, including a 93,000-sf office building. The remaining 318,000-sf office and manufacturing facility has not yet been developed.
Lease terms will run 10 years and are scheduled to commence in the third quarter of 2007. Cardinal Health provides products and services to the health care industry.
The adjacent properties are part of the master-planned Pacific Corporate Center, owned by Los Angeles-based REIT Kilroy Realty Corp. The 318,000-sf facility will be developed on lots 3, 4 and 6, with an estimated total investment of $78 million.
The Cardinal Health signage brings the total development of the property to 861,000 sf and signifies that the complex is now 100% preleased. John B. Kilroy, Jr., president and CEO of Kilroy says that Cardinal Health is a "terrific tenant" and in excellent financial standing.
Other tenants at the Pacific Corporate Center include USE Credit Union, Vical Inc., and Nanogen, a medical diagnostics firm. The site is located off Interstate 805 and Mira Mesa Boulevard.
Last year Globest.com reported that Kilroy had made a pitch for 25 acres of land on a site named Carlsbad Oaks North. Plans included a build-out of between 250,000 sf and 350,000 sf of office space. The project cost was estimated between $75 million and $90 million.
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